Public Policy Update - August 2022
Each month, Philanthropy Southeast provides members with monthly updates on the latest public policy developments in Washington and state capitols around the region, analyzing their possible impact on the charitable sector. If you would like to see an issue featured in a future Public Policy Update, contact Jaci Bertrand, Philanthropy Southeast's vice president of member engagement, at jaci@philanthropysoutheast.org.
Inflation Reduction Act Makes Big Investments in Health Care and Climate Change
Today, President Biden signed the Inflation Reduction Act, a $750 billion package that includes several items of interest to philanthropy, nonprofits and the communities they support.
Health Care: Under the legislation, senior citizens on Medicare will see their out-of-pocket drug costs capped at $2,000 per year by 2025. The bill also opens the door to Medicare negotiating drug prices, a change that is expected to lower costs. The bill also extends for three years existing Affordable Care Act subsidies. Households making up to 600 percent of the federal poverty level – $159,000 per year – are eligible for the subsidies.
Climate Change: The bill contains many provisions designed to speed up adoption of renewable energy and reduce usage of fossil fuels. Also included in the bill is $60 billion dedicated to environmental justice and disadvantaged communities that stand to be disproportionately affected by climate change. Nonprofits will be eligible to apply for a variety of grant programs created by the bill.
These provisions and others are paid for largely via increased taxes on corporations and stronger enforcement of existing tax laws. None of the tax changes in the bill will affect the charitable sector.
The Inflation Reduction Act as passed largely reflects the outcome of prolonged negotiations between Senate Democratic Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WV). It passed on party-line votes in both the House and Senate earlier this month.
Kicking Off on August 31: Advocacy 101 – and Beyond!
Advocacy may not be in your foundation's toolbox today, but it's easy to add it -- to help you embrace advocacy and broaden your foundation's impact, Philanthropy Southeast has partnered with Bolder Advocacy, a provider of trainings, technical assistance, and resources to help foundation leaders take their advocacy to the next level, on a three-part event series exploring these topics:
- What is advocacy -- and what rules do foundations need to follow?
- How can foundations best support the advocacy work of their grantees?
- What can foundations do to promote voter education and engagement?
All workshops will be led by Natalie Ossenfort, Interim Director of Bolder Advocacy. Sessions will also feature Philanthropy Southeast members sharing real examples of advocacy strategies in practice. The first webinar in the series, taking place August 31, will feature Natalie and Chynna Phillips, senior director of policy and research at the Sisters of Charity Foundation of South Carolina.
You can register for all three workshops in this series today -- the series kicks off on Wednesday, August 31, at 11:00am ET!
